U.A.E. Regulator Said to Plan New Rules for Startup IPOs - Bloomberg:
"The United Arab Emirates’ stock market regulator is working on rules that would make it harder for startup companies to sell shares, according to four people with knowledge of the matter.
The regulator will only approve listing applications from startups if they intend to operate in an industry not represented on the U.A.E.’s stock exchanges and in an area of strategic importance to the economy, three of the people said, asking not to be identified as the plans are private.
The proposed regulations follow several so-called greenfield IPOs in the U.A.E. this year, where companies with no operating track record raise money at a nominal value, usually 1 dirham a share, to start operations and fund business plans."
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